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Tax on oil products: SC seeks reply from govt

ISLAMABAD: The Supreme Court sought written replies from the ministries of petroleum and finance, and authorities concerned regarding taxes imposed on petroleum products. A three-member bench chaired by Chief Justice Mian Saqib Nisar heard the suo motu case regarding taxes levied by the government on the petroleum products. During the ...

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Oil-linked shares gain, lifting US stocks

Petroleum-linked shares advanced strongly early Wednesday, lifting US stocks, after President Donald Trump’s decision to leave the Iran nuclear deal boosted oil prices. Shares of ExxonMobil and Chevron were among the biggest gainers in the Dow and Halliburton jumped more than 2.0 percent after US oil prices moved back over ...

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Oil prices soar in Asian markets

Oil prices surged more than two percent in Asia on Wednesday after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty. Both main crude contracts have been rising in recent weeks to reach three-and-half-year highs on expectations the president would withdraw from the ...

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China’s Alibaba Group buys Pakistani e-commerce website Daraz

Picture taken by: EPA/LAURENT GILLIERON China’s Alibaba group has bought Rocket Internet’s South Asian e-commerce platform Daraz, confirmed Rocket Internet on Tuesday.  Daraz is a popular e-commerce website that sells everything from items related to fashion to electronics. Daraz sales have over the years become popular with Pakistanis so much ...

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Pakistan, UAE sign $200m cooperation deal

BPakistan and the United Arab Emirates have signed a two hundred million dollars cooperation agreement to execute Phase-III of the UAE-Pakistan Assistance Programme. The agreement, which will be funded by the Abu Dhabi Fund for Development, was signed by UAE-Pakistan Assistance Programme Director, Abdullah Khalifa Al Ghafli, and Commandant MCE, ...

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Banks don’t want to be weakest link in blockchain revolution

Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities. While banks could reduce their costs, the gains could eventually shift to consumers who could benefit from ...

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Drop the ‘energy’, Punjab tells Red Bull and its rivals

Cans of Red Bull and similar drinks made by other manufacturers can use the word ‘stimulant’ in place of ‘energy’, the Punjab Food Authority has said. Photo: Courtesy The Guardian Punjab has ordered Red Bull and other energy-drink manufacturers to drop the ‘energy’ tag from their labels, reported the Guardian. ...

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